The Best Services For International Payments In 2024

Millions of people around the world send and receive money every day, whether to support family or friends, pay for goods and services, or run a business. It is important to them that these transfers are fast, reliable, and cost-effective.

In 2024, the international money transfer market offers a wide range of services, each with unique features and benefits. In this article, you will learn about the best of them. Use Rates.fm – all about finance industry service to learn even more about modern financial solutions.

Wise (TransferWise)

This is one of the most popular services in the field of international online transfers. It offers support for 50 currencies, has about 8 million customers, and is rated 4.7 on the App Store and 4.4 on Google Play.

Among the features of Wise:

• Simple and fast registration in the application.
• Transparent rates with no hidden fees.
• Transfers at interbank (average market) rates.
• Possibility of creating Business accounts in 40 countries of the world (even if you do not have local registration).
• Instant transfers.
• There is support for a large number of payment methods.
• Saving payment templates. There is support for Google Pay and Apple Pay.

Among the disadvantages: using Wise you cannot receive cash (but business transfers are possible), the payment verification process can significantly extend the transfer time, strict requirements when sending large amounts.

Payoneer

This is a two-in-one service that offers users a debit card + online account. With this set, you can easily make purchases on the Internet, receive and send money around the world, and use ATMs in different countries.

Payoneer features include:

• Can be used anywhere in the world.
• The best solution for freelancers working with overseas clients.
• Easy implementation on the website for online payment.
• Fast account registration.

Among the disadvantages are fees for transfers to a bank account, and unprofitable use of ATMs and credit cards. You can find out more about Payoneer, as well as other information about the finance industry at Rates.fm.

Revolut

This is a financial service with many functions: current account + debit card for 25 currencies + trading with 0% commission on the stock exchange. Users can manage their accounts through the application.

Revolut has an audience of more than 3.5 million people and a license from the European Central Bank (2018). Users can use the Revolut current account both for themselves and for business. The free card from Revolut is designed for transfers in 120 currencies and cryptocurrencies, including Bitcoin.

Square

Square provides a valuable payment processing solution that is convenient for business users. The platform offers an online store, domain, shopping cart, invoices, and virtual terminal.

Other Square features include:

• Alternative to PayPal.
• Comprehensive payment solution.
• Additional services for business.
• The best option for beginner sellers.
• No monthly payments.

Square’s cons: Only available in the US, Australia, UK, Japan and Canada.

Azimo

The application is open to the population of 24 European countries. Users can send money to 195 countries around the world. Azimo has 300,000 cash pick-up points around the planet, as well as the ability to make a transfer to the recipient’s e-wallet.

Other features of the solution include:

• Online translation tracking.
• There are no fees for sending from a bank or credit cards.
• Support 10 languages.
• Paying bills abroad.
• Possibility to top up any mobile number.
• There are no restrictions on the minimum payment amount.
• Ability to use Touch ID and Face ID to protect personal data.

Among the disadvantages of Azimo: shipments are currently only available to Europeans, and registration can only be done by email.

XE

This is an application for sending currency transfers from Europe to 120 countries around the world, supporting 60 currencies. In terms of margin, it is one of the most affordable money transfer services.

Other XE features include:

• Competitive exchange rates.
• A reputable company in its field.
• Ability to track rates of up to 10 currencies simultaneously.
• Advanced functional application.
• There is no commission for international transfers.
• Fast sending of funds.

Among the disadvantages of XE: it is only supported in Europe, and there is no cash option.

2Checkout

This service is often called an alternative to PayPal, mainly because it is capable of accepting payments worldwide. Users are offered 87 currencies, 15 supported languages, and 8 payment types.

Other features of 2Checkout include:

• No monthly fees.
• There is support for major payment methods, including PayPal and debit and credit cards.
• Advanced fraud protection system.
• There is a setup of templates for recurring transactions.

Among the disadvantages of the 2Checkout service is a 1% commission on payments accepted from non-US citizens, as well as an average commission for currency conversion that is 2-5% higher than the bank one.

Skrill

This service offers a simple interface and a prepaid debit card. You can instantly receive an international transfer using it, and then withdraw the received funds from an ATM.

Skrill features include:

• Easy account setup.
• High security.
• Free receipt of funds.
• Work anywhere in the world.
• To register, you only need an email address.

Among the disadvantages of the Skrill service: the commission on each transfer is at least 1% (at least $10), and the account can be accidentally frozen as part of countering fraud.

PayPal

A global service for international online transfers with millions of users around the globe. PayPal is distinguished by its integration as a payment method into many online stores.

Among the main features of PayPal:

• Recognized authority.
• Instant transfers.
• Payment for goods and services.
• Cash pickup (or home delivery).
• Convenient multifunctional application.
• Global presence.
• Large selection of payment methods and money delivery.
• In the USA: the ability to transfer money to family or friends for free.

Among the disadvantages of PayPal are relatively high commissions, and exchange rates that cannot be called transparent.

Final Thoughts

If you are a loyal Bank of America customer but want to expand your financial options and learn more about modern payment systems for international payments or reliable crypto exchanges for buying and selling cryptocurrencies like Binance, we recommend taking a look at Rates.fm. This is a platform where you can learn everything about the finance industry. You can use the service wherever you are, in Los Angeles, Nice, or Helsinki.